Cash America 2011 Annual Report Download - page 101

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Total Expenses. The table below shows total expense by segment and significant category for the years ended
December 31, 2010 and 2009 (dollars in thousands):
Year Ended December 31,
2010 2009
Retail
Services E-Commerce Total
Retail
Services E-Commerce Total
Operations:
Personnel $ 182,161 $ 30,210 $ 212,371 $ 170,266 $ 21,867 $ 192,133
Occupancy 86,339 2,342 88,681 79,084 2,106 81,190
Marketing 13,567 57,079 70,646 13,931 30,264 44,195
Other 36,527 11,391 47,918 33,266 9,343 42,609
Total operations 318,594 101,022 419,616 296,547 63,580 360,127
Administration:
Personnel 46,440 25,202 71,642 44,834 13,036 57,870
Other 5,668 24,208 29,876 7,891 22,168 30,059
Total administration 52,108 49,410 101,518 52,725 35,204 87,929
Depreciation and amortization 35,364 8,559 43,923 34,292 7,297 41,589
Total expenses $ 406,066
$ 158,991 $ 565,057 $ 383,564 $ 106,081 $ 489,645
Year-over-year change - $ 
Operations $ 22,047 $ 37,442 $ 59,489 $ 10,250 $ 19,133 $ 29,383
Administration (617) 14,206 13,589 1,529 10,790 12,319
Depreciation and amortization 1,072 1,262 2,334 (125) 2,063 1,938
Total $ 22,502 $ 52,910 $ 75,412 $ 11,654 $ 31,986 $ 43,640
Year-over-year change - % 5.9% 49.9% 15.4% 3.1% 43.2% 9.8%
Total expenses increased $75.4 million, or 15.4%, to $565.1 million, during 2010 compared to 2009. Total
expenses at the retail services segment increased $22.5 million, or 5.9%, to $406.1 million during 2010 compared to
2009. Total expenses for the e-commerce segment increased $52.9 million, or 49.9%, to $159.0 million in 2010
compared to 2009.
Operations expense. Operations expense for the retail services segment increased $22.0 million, or 7.4%, to
$318.6 million, during 2010 compared to 2009, primarily related to a combination of increases in personnel, occupancy
and other expenses. Personnel expense increased $11.9 million during 2010, of which $2.7 million related to the Maxit
locations acquired in 2010, and the remainder primarily related to normal personnel additions, merit increases and
incentive program accruals. Occupancy expense increased $7.3 million during 2010, of which $1.3 million related to
the Maxit locations, and the remainder primarily to normal rent increases and the addition of 45 retail services locations
during 2010, excluding the Maxit locations acquired in 2010. Other expenses increased $3.3 million, of which $0.6
million related to the Maxit locations acquired in 2010, and the remainder related primarily to an increase in
maintenance and travel expenses.
Operations expense for the e-commerce segment increased $37.4 million, or 58.9%, to $101.0 million during
2010 compared to 2009, primarily due to increases in marketing expense and personnel expense. Marketing expense
increased $26.8 million during 2010, mainly due to the online lending channel’s efforts to expand the Company’s
customer base in both domestic and foreign markets. Personnel expense increased $8.3 million, primarily due to the
addition of new personnel to support the e-commerce segment’s growth.